P3. Agent Administrative Tasks

Agents are to keep in mind that the following administrative tasks required when dealing with a Landlord.

Record the following:

  • Legal ownership.
  • FICA details.
  • Type of management contract.
  • Property inspection report.
  • Banking details/account payment details.

Record maintenance of:

  • Market trends.
  • Regular feedback sessions with the landlord.
  • Body corporate / council payments & liaison.
  • Monthly statement of monies received vs monies paid out.
  • Regular property maintenance and inspections.

Management functions:

  • The number of rentals turned to mandates.
  • Rental property stock growth: number of new rentals vs existing, losses etc.
  • Property market value and property capital gains vs rental returns.
  • Additional properties purchased for buy-to-let.

Agents are to keep in mind that the following administrative tasks required when dealing with a Tenant.

Record the following:

  • All relevant contact details: names, telephone numbers, email addresses etc.
  • Current employment history + past references.
  • Property inspection report.
  • Signed application – specifically permission to obtain credit checks.
  • Means of payment i.e. debit order, EFT, etc.
  • Receipt of the deposit paid and proof of us holding the money in trust.

Record maintenance of:

  • Monitor activities as per the terms of lease agreement i.e. lease renewal.
  • Payment profile and tenant detail updating on TPN.
  • Monthly invoicing & statements and collection of rental payments timeously.
  • Maintaining all communication via letter or email.
  • Address property maintenance and recorded faults.

Management functions

  • The number of tenants converted to buyers.
  • Track number of on-time payments vs late or defaulted payments.
  • Track average lease periods and rental increases.
  • The number of to let properties vs tenants placed monthly.
  • Percentage of existing tenant base defaulting or in the legal eviction process.

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